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Temporary Competitive Equilibrium Under Uncertainty

In: Allocation under Uncertainty: Equilibrium and Optimality

Author

Listed:
  • Dieter Sondermann

    (C.O.R.E
    University of the Saarland)

Abstract

Short-run equilibrium analysis is concerned ‘with an economy where several successive markets are held, to study the conditions which determine the equilibrium of each market and to find how these equilibria are linked together’ (Grandmont [11]). This analysis has been advanced, in particular, by Hicks in his book Value and Capital [13] under the name, temporary equilibrium within a ‘week’. In this paper both terms are used synonymously.

Suggested Citation

  • Dieter Sondermann, 1974. "Temporary Competitive Equilibrium Under Uncertainty," International Economic Association Series, in: Jacques H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality, chapter 13, pages 229-253, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-01989-2_13
    DOI: 10.1007/978-1-349-01989-2_13
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    Citations

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    Cited by:

    1. Jacques Dreze, 2016. "Existence and multiplicity of temporary equilibria under nominal price rigidities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 62(1), pages 279-298, June.
    2. Ichiishi, Tatsuro, 1985. "Management versus ownership, II," European Economic Review, Elsevier, vol. 27(2), pages 115-138, March.
    3. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, August.
    4. Jean-Michel Grandmont, 1976. "Théorie de l'équilibre temporaire général," Revue Économique, Programme National Persée, vol. 27(5), pages 805-843.
    5. Eva Carceles-Poveda, 2009. "Asset Prices and Business Cycles under Market Incompleteness," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(3), pages 405-422, July.
    6. Carceles Poveda, Eva, 2003. "Capital adjustment costs and firm risk aversion," Economics Letters, Elsevier, vol. 81(1), pages 101-107, October.
    7. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.

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